Finance Manager: FOREX (Northern Suburbs (Cape) at PEP

Description

• Are you a detail-oriented finance professional with a passion for foreign exchange and financial excellence? We're looking for a skilled FOREX Finance Manager to lead our forex management, be responsible for hedge accounting, ensure accurate financial reporting and regulatory compliance, manage foreign currency risk, and support our buying teams with competitive seasonal costing rates that help us deliver the lowest prices to our customers. 

KEY RESPONSIBILITIES

Forward cover buying:

• Monitor foreign currency exposure and execute forward cover to minimise exchange rate risk
• Ensure timely settlement of Letters of Credit and foreign exchange contracts
• To ensure compliance with and relevance of the Group's forex policy
• Timely execution & recording of forward cover purchases & subsequent settlement thereof
• Monthly and ad-hoc reporting of forward cover position
• Accuracy of quarterly hedge accounting (including tax calculations on affected contracts)
• Timely communication of all relevant exchange rates and ensuring all systems reflect the correct rates
• Engagement with relevant stakeholders (internal & external) to obtain, maintain & critically assess the forward cover requirements   

Forecasting & budgeting:

• Accurate forecasting of forex impact on I/S & CFC account balances
• Budgeting of currency differences for the annual budget

Risk management:

• Assess opportunities for systemization and process enhancements
• Constant evaluation of the most effective forex products & structures to be used
• Ensure optimum utilisation of Rand invoicing through engagement with Supply Chain

Financial reporting:

• Produce accurate financial reports, maintain records, and support effective cash flow management and financial controls
• Perform monthly reconciliations of forex accounts
• Ensure only valid reconciling items appear on the reconciliations and that the reconciling items are cleared timeously
• Attend to all month-end, year-end & external audit matters

Global economic monitoring, research, and analysis:

• Perform relevant research and technical analysis, including the attendance of economic presentations
• Continuously assess the impact of market news & events on our forward cover buying strategy

Requirements

• Tertiary qualification with an Accounting major
• Qualified Chartered Accountant (SA) with 3 years of post-qualification experience
• Financial and management reporting experience, preferably  in a retail environment and/or commercial environment
• Commercially astute, articulate, strong technical skills, insightful, and an influential leader impacting at both the strategic and operational levels
• SAP S/4 HANA proficiency 
• Google Workspace and MS Excel proficient